Time Inc (TIME) Holdings Cut by LSV Asset Management
LSV Asset Management reduced its position in shares of Time Inc (NYSE:TIME) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 473,400 shares of the company’s stock after selling 6,000 shares during the quarter. LSV Asset Management’s holdings in Time were worth $8,734,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Time by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 8,687,917 shares of the company’s stock valued at $124,672,000 after purchasing an additional 154,543 shares during the period. Dimensional Fund Advisors LP raised its stake in Time by 8.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,491,422 shares of the company’s stock valued at $87,634,000 after purchasing an additional 489,457 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Time by 16.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,232,190 shares of the company’s stock valued at $16,635,000 after purchasing an additional 172,462 shares during the period. JPMorgan Chase & Co. raised its stake in Time by 27.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 955,987 shares of the company’s stock valued at $12,763,000 after purchasing an additional 204,213 shares during the period. Finally, Longfellow Investment Management Co. LLC acquired a new stake in Time during the 4th quarter valued at $12,915,000. 89.28% of the stock is currently owned by institutional investors.
Time Inc (NYSE:TIME) opened at $18.50 on Monday. Time Inc has a one year low of $9.90 and a one year high of $19.70. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.88. The firm has a market cap of $1,840.00, a price-to-earnings ratio of -925.00, a PEG ratio of 2.73 and a beta of 1.06.
A number of equities analysts have recently weighed in on TIME shares. Zacks Investment Research raised shares of Time from a “hold” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research note on Friday, January 5th. Evercore ISI started coverage on shares of Time in a research note on Friday, November 17th. They issued an “outperform” rating and a $7.00 price target on the stock. Citigroup downgraded shares of Time from a “buy” rating to a “neutral” rating in a research note on Monday, December 4th. BidaskClub raised shares of Time from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 14th. Finally, Morgan Stanley dropped their price target on shares of Time from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Monday, October 23rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Time presently has an average rating of “Hold” and an average target price of $15.17.
Time Inc is a media and content company. The Company offers a portfolio of news and lifestyle brands across a range of interest areas. The Company’s brands included People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living, Entertainment Weekly, Food & Wine, and Travel + Leisure, as well as approximately 50 titles in the United Kingdom.
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